Short Interest in Globavend Holdings Limited (NASDAQ:GVH) Declines By 74.7%

Globavend Holdings Limited (NASDAQ:GVH) was the recipient of a significant decline in short interest in the month of March. As of March 13th, there was short interest totaling 11,790 shares, a decline of 74.7% from the February 26th total of 46,522 shares. Currently, 0.8% of the company’s shares are sold short. Based on an average daily volume of 51,135 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

GVH has been the topic of several recent analyst reports. Zacks Research raised shares of Globavend from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Weiss Ratings reissued a “sell (d)” rating on shares of Globavend in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $80.00.

Globavend Trading Up 4.7%

NASDAQ GVH traded up $0.05 on Thursday, reaching $1.03. 138,620 shares of the stock traded hands, compared to its average volume of 1,337,861. Globavend has a 12 month low of $0.87 and a 12 month high of $364.00. The company has a fifty day moving average price of $1.14 and a 200-day moving average price of $3.03.

Institutional Trading of Globavend

Institutional investors and hedge funds have recently made changes to their positions in the company. Connective Capital Management LLC purchased a new stake in Globavend in the fourth quarter worth about $253,000. Sabby Management LLC purchased a new position in Globavend during the 4th quarter valued at about $257,000. Finally, Jane Street Group LLC bought a new stake in shares of Globavend in the 2nd quarter valued at about $29,000.

Globavend Company Profile

Globavend Holdings Limited, together with its subsidiaries, provides integrated cross-border logistics services and air freight forwarding services in Hong Kong, Australia, and New Zealand. The company's services include parcel consolidation, air freight forwarding, customs clearance, on-carriage parcel transportation, and delivery. It serves e-commerce merchants and operators of e-commerce platforms. The company was founded in 2016 and is based in Perth, Australia. Globavend Holdings Limited is subsidiary of Globavend Investments Limited.